Apple's biggest product of the year is under serious threat from the coronavirus outbreak. Bloomberg reported, citing a note from a Bank of America analyst, that the launch of the iPhone 12 could be delayed by a month. This is based on conversations with supply chain expert Elliot Lang. But there is something even worse.

Lan said he expects the iPhone 9 launch to be "delayed by several months" due to "both supply issues and a deteriorating demand environment due to COVID-19." We have already seen multiple reports of temporary factory closures in China due to the coronavirus, and last week it was reported that Apple's largest partner, Foxconn, is not expected to return to full production until the end of March.

According to a new report from Digitimes, the iPhone 12 will likely be delayed until October due to travel restrictions placed on engineers. Apple will not be able to conduct the engineering verification testing required for the 5G iPhone, a critical step before mass production.

And this is the best-case scenario, Digitimes writes, "If the virus cannot be contained and EVT is further delayed beyond April, Apple's 5G iPhone, or iPhone 12 device, may not be ready for the 2020 shopping season is possible," he wrote.

The coronavirus outbreak has wreaked havoc throughout the economy, with the number of infected people soaring above 100,000 worldwide and more than 3,500 deaths. Apple previously lowered its own guidance for the second quarter, citing expected iPhone shortages and likely lower demand for its products in China; Bloomberg reports that Apple could face demand issues in other regions as well if the U.S. slips into a recession. The iPhone 9 (or iPhone SE) was reported to be announced at an event in late March, but that now seems highly unlikely. The model is expected to cost $399 and give Apple a strong rival to Google's upcoming Pixel 4a. A three-month delay would put the iPhone launch around June, which is when Apple's WWDC 2020 event was scheduled to begin. However, that event may be postponed as well. As for the iPhone 12, which is supposed to be Apple's first phone with built-in 5G capabilities, the one-month delay does not seem so dramatic as long as Apple gets it in time for the holiday shopping season.